KANSAS CITY, Mo., May 14/PRNewswire/ --With the national unemployment rate at 8.5 percent,(1) families are living on tighter budgets, and many are struggling to maintain their health insurance coverage. Despite these challenges, there are still ways for consumers to remain protected and save on insurance costs, according to the National Association of Insurance Commissioners (NAIC).

"These uncertain times require us all to be vigilant about our insurance to make sure we are protected," said NAIC President and New Hampshire Insurance Commissioner Roger Sevigny. "Consumers can safeguard themselves and their families regardless of their employment situation by making sure they understand their coverage and researching less expensive alternatives."

Options for the Newly Unemployed

It is important for the newly unemployed to examine their options early, because some choices expire within weeks of job termination. The NAIC offers the following tips about health insurance for those who have recently lost their jobs or believe they might need to plan for the possibility:

* If married, consider joining your spouse's plan: Transitioning to a
spouse's plan is typically the most affordable option, but you have
to act quickly. There is a 30-day special enrollment period during
which an employee can add a dependent who has lost coverage. If that
30-day window expires, then your spouse would need to wait to add you
to his/her plan until the open enrollment period occurs.
* Consider COBRA: The federal Consolidated Omnibus Budget
Reconciliation Act (COBRA) allows individuals who leave their jobs at
companies with 20 or more employees to continue their health
insurance coverage for 18 months. Many states extend similar access
for those who worked for small companies through "mini-COBRA" laws.
In most cases, you have 60 days to elect coverage. COBRA coverage can
be expensive, because you are required to pay the full premium, plus
an administrative fee. However, it is also retroactive once you elect
it, so use those two months to evaluate other options. Those who lose
their jobs because a company goes out of business might not be
eligible for COBRA if the company stops its group insurance plan.
As part of the newly enacted economic stimulus package, the federal
government will pay 65 percent of COBRA extended coverage premiums
for workers laid off between Sept. 1, 2008, and Dec. 31, 2009.
Employers had until April 18 to notify former staff eligible for this
option. There are income limits for subsidy eligibility, however:
$125,000 for single adults or $250,000 for couples who file taxes
jointly.
* Research eligibility for government-sponsored plans: Check to see if
you are eligible for insurance through a government program, such as
Medicaid or Medicare. For more information, visit
www.cms.hhs.gov/home/medicaid.asp or www.medicare.gov.
* Purchase a private plan: You can purchase coverage through private
providers if you meet certain criteria. A high-deductible major
medical policy will cover serious or catastrophic health costs if you
cannot afford a comprehensive plan. Just remember, these plans will
require you to pay more out-of-pocket costs should you need medical
care.
* Join a state-sponsored risk pool: For those who have been denied
affordable health coverage from a private insurer because of a
pre-existing condition, high-risk pools provide the option of
purchasing a state-sponsored insurance plan. These types of plans can
be an alternative for individuals who are not yet eligible for
Medicare or for those who are temporarily unemployed and need
insurance in the interim. Thirty-four states offer high-risk pools,
but the terms of coverage vary by state. Check with your state
insurance department to see if your state has a high-risk pool and,
if so, what your options are. Go to the NAIC's Web site for a link to
your state insurance department: www.naic.org/state_web_map.htm.

Maximize Existing Health Insurance Coverage

Those who have health coverage should also explore ways to take full advantage of existing benefits.

* Switch to generic prescriptions: If you are insured through your
employer, your health plan likely provides a discount for generic
medication. This discount can help you save on monthly out-of-pocket
health costs. If generic options are not available for your
medications, work with your doctor to help ensure your medications
are listed among your health plan's list of preferred prescriptions.
If a drug is not on the formulary, then there is higher cost-sharing
(co-insurance or co-pay).
* Schedule an annual check-up: Annual physicals can catch health
problems before they become serious, saving you money in the long
run. Many insurance plans cover 100 percent of wellness care for
routine exams, immunizations and diagnostic tests.
* Stay in-network: Before booking an appointment, verify that your
doctor is included in your plan at preferred rates. Sticking to
network providers helps ensure lower co-payments and out-of-network
costs. If you need to have a procedure done at an out-of-network
provider, research the costs and be prepared to negotiate the price.
* Use preventive benefits: Some employers offer a subsidized gym
membership or nutrition program. Staying healthy and active will
reduce your chances of needing costly high-risk medical procedures
throughout your lifetime.

More Information

If you have questions or are confused about your insurance coverage, contact your state insurance department. Visit www.naic.org to find contact information for your state insurance department.

Get smart about your insurance needs. For more information about auto, home, life and health insurance options -- as well as tips for choosing the coverage that is right for you and your family -- visit www.InsureUonline.org.

(1) U.S. Bureau of Labor Statistics

About the NAIC

Formed in 1871, the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and five U.S. territories. The NAIC has three offices: Executive Office, Washington, D.C.; Central Office, Kansas City, Mo.; and Securities Valuation Office, New York City. The NAIC serves the needs of consumers and the industry, with an overriding objective of supporting state insurance regulators as they protect consumers and maintain the financial stability of the insurance marketplace. For more information, visit www.naic.org.

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